The first stage - from September 1, the minimum wage in Ukraine will increase to $180 (+ $10 or 5.9%). From January 1, 2021 it will amount to $221 (+ 20%), and from July 1, 2021 - $240 (+ 8.3%).
"Our vision of the need to raise the minimum wage is based on five factors that we analyze (consumer demand, inflation, employment, overcoming poverty, inequality)," Shmygal said.
He adds that the calculations show that the growth of the “minimum wage” will stimulate consumer demand for Ukrainian products, help bring wages to a real cost of living, and will not significantly affect inflation and unemployment.
As we reported before, despite the resignation of National Bank head Yakiv Smoliy, the EU has not abandoned plans to provide Ukraine with 1.2 billion euros of macro-financial assistance and is preparing to sign the memorandum in July.